Tuesday, January 26, 2021

CPI – Substitution is OK, But Price influence on Transitions Need to be Respected

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 The CPI captures a measure of inflation for earners in the urban economy of the US, the so-called CPI-U that is reported in most media outl...
Saturday, July 20, 2019

The Fallacy of Krugman’s Baby Sitter Money Economy

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Back in 1998 Paul Krugman wrote an interesting article [1] recounting the story of a baby sitting collective on Capitol Hill to draw lesso...
Thursday, June 27, 2019

The Federal Reserve should stop paying interest on reserves

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In the aftermath of the financial crisis of 2008 the Federal Reserve took many extraordinary measures to prop up the financial system.  A...

No new currency is needed to pay interest on fiat currency

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Often one hears claims that fiat currencies are intrinsically inflationary and ever expanding because more currency is needed in the future ...
Thursday, January 3, 2019

Best Description of Banking and Finance Today

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Professor Richard Werner gave an interview recently where he very concisely describes how our financial and banking system currently works, ...
Wednesday, January 2, 2019

Single Currency Trade Mechanism

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Trade has been in the news quite a bit lately due to the Trump administration's focus on the trade deficit, particularly that with China...
Tuesday, May 1, 2018

The Old Deal Strikes Back

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The economic situation that we face today in America is not a recent creation, nor one of the twentieth century.  Rather it is an ongoing ev...